What are the allegations of unjust enrichment in favour of the Lenders against the Underwriters?
Alberta, Canada
The following excerpt is from Magellan Aerospace Ltd. v. First Energy Capital Corp., 2000 ABQB 678 (CanLII):
The Underwriters also allege an unjust enrichment in favour of the Lenders at the expense of the flow-through shareholders and the Underwriters. Unjust enrichment requires: (1) an enrichment; (2) a corresponding deprivation; and (3) the absence of any juristic reason for the enrichment (see Sorochan v. Sorochan, 1986 CanLII 23 (SCC), [1986] 5 W.W.R. 289 (S.C.C.) at 294).
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